March 12, 2012 - Plan to Attend the Foundations University event being held at the Amusement Expo in Las Vegas.
Gain access to over 175 years of combined experience & expertise from
the Entertainment Industry’s Leading Experts.
FOUNDATIONS is a 2-Day, 1-Evening comprehensive educational workshop and seminar program covering all aspects of planning, designing or re-designing, developing and operating a location-based entertainment business for long term success. The workshop will start at 8:30 AM, Monday, which will continue into the evening with dinner provided, and end at 5:30 PM, Tuesday.
FOUNDATIONS provides a complete blueprint for anyone developing and opening a new center or significantly expanding or renovating an existing location-based entertainment facility. Attendees will tap into over 175 years of combined experience and expertise of the industry’s top consultants and operators. You will eliminate the learning curve and avoid the mistakes of less fortunate companies who are struggling to survive or have closed.
WHO SHOULD ATTEND?
High level decision makers, including founders, owners, CEOs and general managers need to attend Foundations. All will benefit from gaining new knowledge, insight and a better understanding of how to be successful in the Fun and Location-Based Entertainment Industry.
- The Location-Based Entertainment Industry - What are Location-Based Entertainment Facilities? Types of LBEs.The Different Target Markets - Defining the geographic market area. Assessing competition. Analyzing demographics and socio-economics. Defining a target market.
- Consumer Out-of-Home Expenditures Trends & the Impact of the Great Recession
- The Development Process
- Site Selection - Essential characteristics, establishing the size, permits and other entitlement issues.
- Feasibility & Economic Analysis - Attendance projections. Per capita expenditure projections. Expenses. Cash flow versus profits. Sensitivity Analysis. Determining the return: cash-on-cash versus return on capital.
- Mix & Concept Development
- Cost Estimates & Budgets - The flaw of using square foot averages and industry benchmarks. Getting into the detail early. Commonly missed costs.
- Selecting a Contractor
- Business Plans & Financing - Financial statements: understanding their use and interpretation. Types and sources of financing. Should you borrow or have partners? How to put together a winning business plan and presentation. Understanding the lender’s perspective on your ability to service debt. Using personal guarantees to your advantage. Venture, angel and investor capital.
- Layout & Design - Indoor and Outdoor Facilities - Determining peak period demand and entertainment capacity requirements in order to right size the facility. To use or not use existing buildings. Design constraints. Creating the proper mix of attractions and sizing them to fit the market. Developing a site layout and attraction placement to maximize thru-put and impulse sales. Maximizing entertainment value. The types of attractions. The design process from concept to final plans, plus governmental approvals and selection of contractors. Game room mix, layout and dynamic clusters.
- Sourcing Equipment
- Cash & Inventory Management - The symptoms of silent partners. Causes of shrinkage and theft. Effective key control systems. Holding employees accountable. Electronic control systems. POS and debit card systems.
- Food & Beverage - Establishing the menu. Kitchen design and equipment selection. Setting your prices Setting up systems.
- Games & Redemption - Types of games. Industry trends. Optimizing the mix, layout and number of games. Redemption: game ticket payout, hit frequency, win percentage, entertainment value, perceived value versus cost. Owning or revenue share? Analyzing collection reports.
- Safety & Insurance - Training. Equipment. Preventive maintenance. Operating manuals. Crisis management.
- Marketing - Developing an effective marketing plan. What should you spend? Types and advantages/disadvantages of different media. Promotions that work. Theming and brand development.
- Building Blocks of Management & Operations - Hiring and training a winning staff. Essentials of customer service. Creating repeat appeal. Establishing your standards. Using policies and procedures to create consistent guest experiences.
- Forward Thinking
- Entertainment - Now and Towards the Future - Look at the development, application and trends shaping the amusement scene. Current and future trends. The impact of emerging Out-of-Home entertainment, along with other technologies used. Looking beyond conventional amusement and other aspects of the pay-to-play scene and their social impact.